Dynamics of Integration between Chinese and International Waste Paper Markets,Journal of Sustainable Forestry

当前位置： X-MOL 学术 › J. Sustain. For. › 论文详情

Our official English website, www.x-mol.net, welcomes your feedback! (Note: you will need to create a separate account there.)

Dynamics of Integration between Chinese and International Waste Paper Markets
Journal of Sustainable Forestry ( IF 1.2 ) Pub Date : 2019-12-05 , DOI: 10.1080/10549811.2019.1679648
Di Shang ₁ , Diao Gang ₂ , Baodong Cheng ₁

Affiliation

ABSTRACT China is the largest importer of waste paper in the world and is highly dependent on the international market. Thus, the relationship between Chinese and international waste paper markets affects the supply of fiber materials in China’s paper industry. This study examined the dynamic relationship between the two markets and the impact of newly implemented policies on both markets. We used unit root tests, cointegration test, vector error correction model (VECM) and frequency-domain Granger causality test to investigate the integration between Chinese and international waste paper markets and identify which of the two markets is the price leader. The results revealed that the two markets were integrated after controlling for structural breaks, and the Chinese market acted as the price leader. Since the supply of waste paper and wood pulp is insufficient in China to meet the fiber demand of the paper industry, waste paper import restrictions have significantly affected the supply of fiber materials in China’s paper industry. Therefore, the Chinese government should fully consider the benefit of market integration and make full use of international waste paper resources to satisfy the large domestic demand for paper products.

更新日期：2019-12-05

点击分享查看原文

点击收藏

阅读更多本刊最新论文本刊介绍/投稿指南11